This ARM calculator shows a fully amortizing ARM, which is the most common type of adjustable rate mortgage. The monthly payment is calculated to pay off the entire mortgage balance at the end of the term. Some things to keep in mind when using our free adjustable rate mortgage calculator: Term: The term is…
Free House Flipping Calculator: Cost, Profit & ROI
How to Read Your House Flipping Calculator Results Closing Costs: If you’re not sure about how much your closing costs are, the average ranges from 2 percent to 5 percent of the purchase price. Average ROI on Flipping a House: Fifteen percent is the average and anything above that is typically considered good. Next…
Top 12 Rental Property Tax Deductions & Benefits [+ Free Worksheet]
The IRS allows you to take tax deductions for any legitimate expense related to running a rental property. If you own rentals, you can claim expenses in 12 categories spanning everything from interest, to insurance, repairs, and depreciation. However, you must record them, according to IRS guidelines. To fulfill your tax and bookkeeping needs, it’s…
Home Equity Line of Credit: What It Is & How to Get One
A home equity line of credit (HELOC) is a revolving line of credit collateralized by your home. The maximum limit for a HELOC is based on the amount of equity in your home and typically will not exceed 85% of the home’s value. HELOCs have relatively low interest rates, with current rates starting at 5.25%….
Rental Application Form [+Free Templates]
A rental application form is completed by a prospective tenant who wants to lease a property. It’s used by property owners to screen tenants and decide if they qualify to rent the property. We’ve developed several free rental application templates that you can use for single-family homes, vacation rentals, or apartments. Free Rental Application Template…
Top 19 Tenant Appreciation Gift Ideas from the Pros
Landlords know that quality tenants are hard to find. To keep your occupancy rate high and avoid untimely vacancies, you should show appreciation and gratitude to good tenants and keep them happy. To help, these experts shared their best tenant appreciation gift ideas to help you find the most appropriate and cost-effective present for your…
33 Pro Tips on How to Flip a House for Maximum Profit
Fix-and-flip real estate investing can be both risky and rewarding. It’s not as simple as buying a cheap home, renovating it, then selling it within 90 days. There’re many things to learn for you to make a successful flip. To help, we asked the experts to share their tips on how to flip a house…
How Much Does It Cost to Flip a House? 4 Key Factors to Consider
The cost to flip a house equals the sum of the acquisition cost, repair costs, carrying costs, marketing costs, and sales costs. Costs vary based on where the home is located, property type, and the extent of the renovations needed, but the total cost to flip a house is usually around 10% of the purchase…
Free Month-to-Month Rental Agreement Template
A month-to-month rental agreement outlines the terms of the lease, such as the rental amount and security deposit. It should also include the landlord and tenant responsibilities. While the specific contents of month-to-month rental agreements vary by state, there are three basic rental agreement templates you can use based on property type like single-family, multifamily,…
Top 23 Fix & Flip Projects With High ROI From the Pros
Flipping houses is a rewarding real estate investment and the best way to make it profitable is to choose renovation projects with a high return on investment (ROI). Investing in the wrong projects can increase your costs and reduce your profit potential. To help, we spoke with industry experts who shared the best fix-and-flip projects….
Flipping Houses Taxes: Capital Gains vs Ordinary Income
Flipping houses is generally not considered passive investing by the IRS. Tax rules define flipping as “active income,” and profits on flipped houses are treated as ordinary income with tax rates between 10% and 37%, not capital gains with a lower tax rate of 0% to 20%. Taxes on flipping houses will usually include self-employment…
Hard Money Loan Rates, Points, & Costs
Hard money loan rates can range from 7.5% to 15% with three- to 36-month terms. Points to close on hard money loans typically fall between 2% and 10% of the loan amount. Pricing is primarily based on risk, equity, and borrower experience (if a fix-and-flip). Unlike conventional underwriting, hard money lenders develop their own guidelines….